The executive who piloted Virgin Atlantic Airways through the COVID-19 pandemic is taking the helm at a major provider of traffic management services in his biggest role since he left Sir Richard Branson’s flagship company.
Sky News has learnt that Shai Weiss, who retired last December after almost seven years at the helm of Virgin Atlantic, has agreed to become executive chair of Stockholm-headquartered Ramudden Global.
His appointment will be announced publicly on Wednesday.
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Mr Weiss steered the airline through the most turbulent period in its 42-year history, landing a restructuring of the carrier which was brought to the brink of collapse by the Covid crisis.
A former finance and commercial chief of Virgin Atlantic, he has since taken up a boardroom post at Navan, a New York-listed travel management company.
Prior to joining the airline, he held roles in telecoms, investment banking and venture capital.
His appointment at Ramudden comes nearly six months after I Squared Capital, a prominent infrastructure investor, completed the acquisition of a controlling stake in the company from private equity firm Triton Partners.
Ramudden, which employs roughly 6,000 people, operates in 14 countries including the UK.
The company provides traffic management and infrastructure safety services, and under I Squared’s ownership is expected to pursue strategic acquisitions aimed at expanding its international presence.
“With a mission to get people home safely every day, Ramudden operates at the heart of an essential and growing industry,” Mr Weiss said in a statement issued to Sky News.
“As governments and businesses continue to invest in maintaining, modernising and expanding critical infrastructure, the importance of safety and traffic management services will only increase and with that the opportunity to grow significantly.”
Mr Weiss will work alongside Morten Finslo, Ramudden’s chief executive, on the company’s growth plans.
Its other key markets include Sweden, Belgium and Germany.
“Ramudden has established strong market positions across Europe and North America, providing essential services that underpin the safe operation and maintenance of critical infrastructure,” said Mohamed El Gazzar, senior partner at I Squared Capital .
“We see significant opportunity to build on this foundation through continued investment, operational integration and strategic acquisitions.
“Shai brings extensive experience leading complex international businesses, and his appointment will be instrumental as we work with the wider Ramudden team to build a truly global infrastructure safety platform.”
I Squared Capital’s other investments have included Aggreko, the temporary power supplier it jointly owns with TDR Capital and which is targeting a near-term public market debut in New York.
